The market is expected to open in the green today as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 51 points.
The BSE Sensex fell 251 points to 60,432, while the Nifty50 declined 86 points to 17,771 and formed a bearish candle on the daily charts, indicating temporary nervousness among market participants. Overall, the rangebound trade continued for the eighth consecutive session.
As per the pivot charts, the Nifty has support at 17,729 followed by 17,691 and then 17,630. If the index moves up, the key resistance levels to watch out for would be 17,852 followed by 17,890 and 17,951.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
Wall Street closed sharply higher on Monday as investors awaited inflation data likely to hint at the path of the Federal Reserve's future interest rate hikes, while Meta Platforms gained after a report that the Facebook parent was planning fresh layoffs.
The S&P 500 climbed 1.15 percent to end the session at 4,137.32 points. The Nasdaq gained 1.48 percent to 11,891.79 points, while the Dow Jones Industrial Average rose 1.11 percent to 34,246.13 points.
Asian Markets
Asia-Pacific shares are to trade higher as investors await the release of the US consumer price index report, which will shape the Federal Reserve’s path ahead.
In Australia, the S&P/ASX 200 rose 0.52 percent in its first hour of trade. The Nikkei 225 rose 0.86 percent and the Topix climbed 0.9 percent. South Korea’s Kospi started the day 1 percent higher, while the Kosdaq also gained 0.78 percent.
SGX Nifty
Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 51 points. The Nifty futures were trading around 17,840 levels on the Singaporean exchange. Read More On..
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